NEAR SOUTHWEST MICROMARKET PERFORMANCE NEAR SOUTHWEST COMPETITIVE SET Quarter
Net Rentable Area
Direct Available SF
Sublease Available SF
Net Absorption*
Direct & Sublease Vacancy Rate
Avg. Class A Full Service Rental Rate
2013 Q3
2,718,247
252,847
30,712
22,236
10.43%
$35.83
2013 Q4
2,718,656
228,673
41,301
13,994
9.93%
$35.99
2014 Q1
2,712,851
209,356
143,888
(89,075)
13.02%
$37.18
2014 Q2
2,712,851
191,624
165,931
(4,311)
13.18%
$37.40
2014 Q3
2,712,851
174,207
126,557
56,791
11.09%
$37.59
2014 Q4
2,713,137
158,703
124,248
18,099
10.43%
$38.03
2015 Q1
2,711,340
143,863
125,110
12,181
9.92%
$39.26
2015 Q2
2,925,937
110,815
101,710
271,045
7.26%
$39.49
*Absorption includes sublease space.
16%
300,000
94%
350,000
14%
250,000
93%
300,000
12%
200,000
92%
250,000
10%
150,000
91%
200,000
8%
100,000
90%
150,000
6%
50,000
89%
100,000
4%
50,000
2%
-
Absorption (SF)
Vacancy Rate
Availability (SF)
400,000
(50,000)
2013 Q4
Direct Available SF
2014 Q1
2014 Q2
2014 Q3
Sublease Available SF
2014 Q4
2015 Q1
2015 Q2
17%
$39.00
15%
$38.00
13%
$37.00
11%
$36.00
9%
$35.00
7% 5% 2014 Q1
2014 Q2
Average Class A Full Service Rental Rate
46
2014 Q3
2014 Q4
2015 Q1
2015 Q2
Direct & Sublease Vacancy Rate
Vacancy Rate
Rental Rate
$40.00
2013 Q4
2014 Q1
2014 Q2
2014 Q3
2014 Q4
2015 Q1
2015 Q2
87% 86% 85%
Net Absorption*
VACANCY VS. RENTAL RATES
2013 Q3
2013 Q4
(150,000)
Direct & Sublease Vacancy Rate
$34.00
88% 2013 Q3
(100,000)
0% 2013 Q3
-
Direct & Sublease Occupancy Rate
Occupancy Rate
NET ABSORPTION
AVAILABLE SF VS. VACANCY RATE